SEBI, the Securities and Exchange Board of India, announced its plans to collaborate with a US-based artificial intelligence systems company. The US firm is reportedly known to have aided in combating gambles in Las Vegas casinos, hence becoming an area of interest for SEBI, looking to deter insider trading in India. According to speculation, the board also plans to explore AI potential on several other fronts too.
During the initial discussion, SEBI has been shown the kind of software that will be used, how it works, and how beneficial it can be for the board in India. The firm reportedly stands out because all the software will be customized to meet SEBI’s requirements in the most efficient manner.
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The combination of artificial intelligence and casinos is not a recent update, especially in the virtual arena. AI has been an integral part of the online gaming and casino sector for the last few years. It helps the operators to quickly spot and track players’ behavioral patterns and actions. Consequently, casinos accumulate a lot of information that can be utilized to spot any changes and detect misuse, fraud, or addiction with the help of AI. Operators can also know the specific games and offer a player usually opts for.
It’s a win-win situation for the casino operators and authorities. SEBI is considering this technology area because the AI systems utilized in the casino sector, especially in the US, are known for their high accuracy. It will utilize the technology to ensure that every transaction happens above the board and that any fraudulent activity is tracked before its occurrence, as operators and authorities will be able to act promptly and decisively.